Cardamom futures gain on rise in spot demand

Cardamom prices were up by 2.30 per cent at Rs 1,422 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand in the domestic spot market.
Besides, tight supplies from producing regions due to poor production caused by prolonged dry weather conditions in Kerala supported to the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in December contracts climb by Rs 32 or 2.30 per cent to Rs 1,422 per kg with trading volume of 281 lots.
Similarly, spice for delivery this month shot up by Rs 28.70 or 2.16 per cent to Rs 1,360 per kg in 36 lots.

Traders said fresh widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.